You might pay 20% Income Tax, but that doesn’t necessarily mean you’ll pay Capital Gains Tax at 18%. We’ve had two conversations with clients this week which highlighted a very common misunderstanding about Capital Gains Tax (CGT). Both clients were basic rate taxpayers for Income Tax and both assumed that, because they paid Income Tax
Category Archives: Self-Assessment/ Personal Tax
Changes to Tax Rates & Thresholds, Corporation Tax, HMRC Updates & Changes, Important News from HMRC, Self-Assessment/ Personal Tax, Tax Planning & Saving Tips, Year-End Preparation Tips
Autumn Budget 2026: What does it mean for you and your business?
The Autumn Budget 2026 has been announced, bringing changes to tax, business expenses, employment costs and household finances. But what do these changes actually mean for you? Whether you’re a sole trader, limited company director, landlord or employee, some of the announcements could affect how much tax you pay and how you plan your finances.
Allowable Limited Company Expenses, Common Bookkeeping Mistakes, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips, VAT Tips for Small Businesses
Christmas business gifts and parties: What can you claim against tax?
Christmas is a time for showing appreciation. Whether you’re sending hampers to clients, buying your team a bottle of wine or organising the office Christmas party, it’s important to understand what HMRC will allow you to claim. The rules aren’t always straightforward. A Christmas gift might be a genuine business expense but still not qualify
Self-Assessment/ Personal Tax, start-ups
Partnership or Limited Company: Which is right for your business?
When you start working for yourself, choosing a business structure probably isn’t at the top of your list. You’re more likely to be thinking about finding customers, doing the work, sending invoices and getting paid. But as the business grows – particularly if you’re working with someone else – the way you structure the business
MTD for Income Tax (ITSA), Organising Your Receipts & Invoices, Self-Assessment Tips for Sole Traders, Self-Assessment/ Personal Tax
The Tax Return mistakes that cost people time, stress and money
When it comes to self-assessments, most people fall into one of two groups. The first group starts gathering information months in advance, keeps everything organised and submits their tax return without a hitch. The second group spends January frantically searching through emails, bank statements and paperwork, trying to remember whether they received interest, dividends, pension
Allowable Limited Company Expenses, Important News from HMRC, Self-Assessment/ Personal Tax
HMRC Increases Mileage Rates from 1 April 2026
With the cost of running a vehicle continuing to rise, many business owners and employees will welcome HMRC’s increase to the approved mileage rates from 1 April 2026. If you use your own car for business journeys, this change means you may now be able to claim a little more towards the cost of fuel,
Changes to Tax Rates & Thresholds, Self-Assessment/ Personal Tax
How to Check Your State Pension Forecast and Why It Matters
When it comes to retirement, many people assume their State Pension will simply fall into place. In reality, the amount you receive can vary quite a bit. It is not something we can check for you as your accountant, either. The good news is that it is quick and easy to check your State Pension
Allowable Limited Company Expenses, Corporation Tax, P11D's, Self-Assessment/ Personal Tax, Tax Planning & Saving Tips
Which business insurances are tax-deductible (and which aren’t!)
Running a business is full of risks — and having the right insurance is part of smart, responsible planning. But did you know that which business insurances are tax-deductible (and which aren’t) depends on who the policy protects, how it’s paid for, and who ultimately benefits? Whether you’re a sole trader or you run a
Allowable Limited Company Expenses, Government Support & Reliefs, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Entertaining staff, subcontractors and spouses – what you can (and can’t) claim as a business expense
Treating your team to a night out or saying thank you to a subcontractor can feel like a well-earned reward after a busy period. But when it comes to putting it through the books, HMRC doesn’t always share the same sense of celebration! Here’s what counts (and what doesn’t) when entertaining staff, subcontractors – and
Allowable Limited Company Expenses, Automating Your Finances, Best Accounting Apps, P11D's, Self-Assessment Tips for Sole Traders
Cars and Limited companies: mileage logs vs fuel repayments (what HMRC says)
When you run a limited company, using a car for work can quickly get confusing. Should you log mileage and claim it back — or have the company pay for fuel? And what about tax? Let’s break down the limited company car mileage vs fuel benefit debate, straight from HMRC’s official rules, so you can